On contrary if there was a sudden loss of faith in tether, that would mean people would sell their tether, why would anyone want to stay in something that they do not have any faith in? Which means we are going to see people running away from tether, and when they sell their tether what to do they buy with it? That's right, they would buy bitcoins with it.
This is why I think if tether lost all their customers, became a company with zero money in it, and every single USDT in the market was sold back to tether and all the money was taken back from them, we are going to see an insane and unbelievable increase in bitcoin. By comparison tesla bought 1.5 billion dollars worth of bitcoin and increased the market more than 10% higher, if we see 20+ billion USDT all switched to bitcoin we are going to see 2x easily for bitcoin all on first day.